The new manager, Resolution 11 and the AGM

The new manager, Resolution 11 and the AGM

It has been an issue swilling around the mire ever since the last attempt to pass it through failed in 2016. And with this management race, more and more claims are being made that the appointment is being held off until it gets (hopefully) passed at the AGM in 8 days.

Resolution 11 is the big one according to an increasing number, and shareholders will be voting on it again come the end of the month.

What is it, and what does it have to do with a manager?

In short, Resolution 11 allows the board to administer a new share issue without having to consult or involve existing shareholders with regards it.

In other words, Rangers currently have to more or less get permission from those already invested in the club if they want to try to get fresh capital, and offer them the new shares as well, and those terms are unproductive to say the least.

Especially when you consider Alexander Easdale is one of those existing shareholders.

Pass Resolution 11, and the board is then free to issue new shares and get new outside investment without anyone’s approval or even knowledge, and that is where the new manager comes in.

If Rangers want to have funds to support him, and the vision of being able to continue to attract new investment into the club, Res11 has to pass, otherwise the new man is reliant on what the existing board can stump up themselves.

It is a fair theory. It could well be wrong – it could be the board really is making a pig’s ear of finding a new manager.

Or it really is a case of them biding time till they can pass Res11 and support the new guy via new sources of revenue as well as their own.

Time will tell…

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    • Yep, self interested prick who pretends to be a Rangers man. Amazed at the number of people who can't figure this out.

  1. Something Definitely funny, were waiting on something, God only knows what's happening behind closed doors!!?

    Good bet Friday Morelos to score at any time Even money, 8 weeks ago he was 1/7.
    Get on 》》》》£££££

  2. How many shares can a club sell can you just keep bring out more and more?Time for this board to go…………..

  3. Yes keeping the lights on that's what's going on, there is £4 million required for wages which has to be loans and it must be remembered King is toxic in any UK financial market, to raise any sort of money King has to step down and distance himself from the club

  4. Just to add to what ibrox noise has said!I've also been told by some fellow prominent shareholders,that the reason of the managerial appointment delay,is down to resolution 11 being hopefully,voted through!The same fellow shareholders are telling me that new york city head coach patrick vieira,is the manager, our DOF has recommended to our directors,as the preferred choice,if the extra investment comes into our club!Our director alistair johnston is very prominent in possible investment coming in,from america!What a statement of intent that would be,if it were to be patrick vieira,as our new manager/head coach!It would be of a similar appointment to when we appointed graeme souness,as our new manager in 1986!What's your thoughts on this ibrox noise and of course all fellow bears??This could be very exciting IMHO!!

    • Robert, Robert it's time to wake up from your dream, Patrick viera seriously cmon that's never gonna happen in a month of Sundays.

    • Patrick Viera hahahahahahahahahaha. Naw your alright. We are looking for a manager with a bit more experience than the MLS.

  5. there are currently 85 million shares in RIFC. If RES 11 gets passed they want to issue another 104 million shares. So if the shares are currently worth 20p so if this RES 11 gets passed each share will be worth about 7p.
    Basically bumping supporters who own shares.
    None of the money raised will go to the team, it will be used to pay off the soft loans. So the share issue will benefit the 3 bears & king, not the club. It won't raise any money for improvement in the squad

    • Rubbish. How will the supporters be "bumped"? The ordinary supporter buys shares in relatively small amounts to help the club financially, not to make themselves any money. If the board were so desperate for the cash, they wouldn't have taken any chances in the first place, but just kept the money to themselves and let the club go down the drain. No one other than them know exactly how the money will be spent, but it's more than likely the vast majority, if not all, will go towards the new manager and playing staff and all the other bits and pieces around Ibrox that require attention. The club badly needs an injection of cash and we can't expect the board just to keep putting their hands in their pockets. They might not be perfect and will never be able to please everyone, but some people should be a bit more appreciative of their efforts in difficult times rather than just sniping and constantly trying to undermine them. I'll be more than happy to make my own small contribution when the time comes, as will plenty of other Rangers supporters. You can please yourself.

  6. Prospective new manager: What's my budget going to be??
    Rangers board: Don't know yet…
    Prospective new manager: Goodbye.

    The club MIGHT have the £800k to get McInnes (if that is who they want) but I reckon they are struggling to put together a decent transfer budget. They are probably trying to raise money from more soft loans but finding the well is running dry. Hence this theory on the AGM is probably correct…

  7. still wouldnt vote for res 11. why would the board want to hide their investers? hardly transparency is it? by all means try and get more investors but running it by those who currently have the best interests of the club at heart. it smacks of the green/easdale/ashley era.

  8. So why would we want to vote to pass for more shares,when mr king and the rest of the board need changed king and co should now move on they had there chance and we are not any better than we where 3 years ago,board change must be the vote of the day then we vote in who we want to run club then if needed a share vote,but i still say a club of our size could be fan run where lets say 90% of money is on players and wages fans do not take £250.000 a year in wages fans buy what and who we need.

  9. All of the speculation will be clear at the AGM Resolution 11 does allow shares to be issued and yes soft loans would obviously have to be paid back , I have heard however that the most of the loanees are happy to wait for some of this money and may accept half till we move forward with advertising , merchandising and new contracts for next season and maybe use the share money for players etc. The AGM will hopefully clear this up as there will be no obstruction to plain and open speaking ( Ashely) and we can get a move forward hopefully .

  10. Soft loans are to be repaid in shares according to most of those who have lent money to the club so they aren't really repaid using cash. Therefore is 4m is raised from the new shareholding it can all go back into making the club stronger.

  11. Some Rangers fans need to think about what they say about dumping the board. All I ask is who would invest in the club? Who has the funds to pay for the running of the club?
    Whether we like King or all his associates or not, he put up when others we wanted didn’t and before anyone accuses me of being in the King camp, I am not. I want all directors, board members and hopefullly a fan based representation to be squeaky clean with no baggage, but I am a realist. I have lost out with shares when we went into liquidation, losing financially, but surely a devaluation for Rangers fans shares to progress the club financially is the way forward.
    The only way to progress is for the club to become financially stable prior to further outward investment and only then will we ever get back to where we should be as a football club.

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